Newspaper article Evening Chronicle (Newcastle, England)

More Fans Promise Cash

Newspaper article Evening Chronicle (Newcastle, England)

More Fans Promise Cash

Article excerpt

THE secretive organisers of a fans takeover bid say their plans are gathering pace.

Businessman and Newcastle United fan Peter Lee, 45, wants 300,000 supporters to invest pounds 1,000 each to raise the cash to buyout Mike Ashley. Now, he has revealed a mystery donor will add pounds 84m to the coffers once that target is reached through supporters' pledges.

And Mr Lee, 45, says 1,100 supporters have already said they would be prepared to cough up the cash to oust Mike Ashley from the club.

He has also released details of how the membership structure of fans-owned Toon would be set up. Mr Lee, whose group has the backing of leading sports lawyer Mel Goldberg said: "Basically, there are two categories, owner and member.

"Only owners would get a vote for their pounds 1,000, while members can invest as little as pounds 25 for an annual membership but would get a year of full access to the website. For pounds 100, you would buy 10 years' membership, with pounds 250 for a lifetime and full online access for duration of your membership. …

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